Crisis-hit Jet Airways (India) Ltd. will pay salaries to its senior staff, including pilots, in instalments till April, according to people aware of the development.
The full-service carrier, which has been grappling with financial woes, would give this month 75 percent of the October salary, of which 25 percent is expected to be credited on Thursday, the people cited earlier said.
The people said the payment schedule was discussed with pilots during their meeting with Jet Airways Chief Executive Officer Vinay Dube.
As per the latest schedule, salaries would become current from April 2019 and 100 percent of March salary would be paid in April itself, they said.
25 percent of the October salary as well as 75 percent of the November salary would be paid in January, the people said.
Further, 25 percent of the November pay along with full December salary would be given in February. Around 25 percent of the January salary would also be paid in February.
The people also said that 75 percent of the January pay and full salary of February would be doled out in March 2019.
A Jet Airways spokesperson said the airline is committed to meeting all its salary obligations and has already paid salary to 85 per cent of its workforce on time for the November payroll. "This week, the company has remitted the final tranche of the pending September salary and 25 per cent of October salary for the remaining 15 per cent of its employees.”
"All employees of the company, including its pilots and engineers, continue to actively cooperate to ensure its successful turnaround," the spokesperson said.
Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.
